Water Soluble Fertilizers Market

Global Water-soluble Fertilizers Market Size (2024 to 2032)

The global water-soluble fertilizers market was valued at USD 20.4 billion in 2023 and is anticipated to reach USD 21.56 billion in 2024 from USD 33.57 billion by 2032, growing at a CAGR of 5.69% from 2024 to 2032.

CURRENT SCENARIO OF THE GLOBAL WATER-SOLUBLE FERTILIZERS MARKET

Water-soluble fertilizers are mainly used to control the amount of nutrients plants provide. These fertilizers can be mixed with water and, therefore, are easily applied by fertigation or foliar application.

Water-soluble fertilizers are multi-compound fertilizers that can be dissolved in water. Plants absorb them quickly and, therefore, their absorption and use are relatively high compared to conventional chemical fertilizers. These fertilizers are better suited to modern irrigation systems. In addition, they also help prevent contamination of groundwater. Because of these advantages, water-soluble fertilizers are preferred over typical chemical fertilizers.

Water-soluble fertilizers are very suitable for advanced irrigation technologies. Not only do they save water and fertilizers, but they also reduce labor costs. These fertilizers have fewer impurities and have low conductivity compared to chemical fertilizers. Also, the concentration of fertilizer is easy to adjust. It is also considered a safe chemical option for young plants. All these benefits of water-soluble fertilizers have a positive impact on the growth of the world market. Some of the main factors that stimulate the growth of the global water-soluble fertilizers market are its application in greenhouses, economic incentives with fertigation to reduce the consumption of groundwater, government subsidies for the adoption of this technology, and a higher demand for systems of micro-irrigation. 

However, factors such as the high cost compared to other soil fertilizers, their negative seasonal impact and the requirement for a high initial installation cost may slow the growth of the market in the near future. The demand for and adoption of drip irrigation has increased as it saves water and is suitable for all land, including hilly land, dry land, rugged topography and areas with shallow soil layers. The increase in government initiatives aimed at increasing agricultural production, as well as the implementation of various subsidies to promote the use of drip irrigation, will have a positive impact on this industry.

The Food and Agriculture Organization of the United Nations (FAO) has predicted that developing countries, including China and India, will need more than 120 million hectares of farmland by 2030 to meet the food needs of their growing population.

The strong market growth is linked to the rapid urbanization of developing cities and large-scale industrialization, combined with a high demand for energy. 10 This has resulted in the conversion of forest areas to arable land. On the other hand, previously, arable land has lost its fertility due to global climate change and farming methods.. To solve this great challenge of zero hunger, water-soluble fertilizers are a vital solution to help farmers sustainably maximize yields and accelerate the maturity of crops while maintaining overall plant health despite the desertification of agricultural land and the degradation of soil quality.

Global Water-Soluble Fertilizers Market Drivers And Restraints

There are several growth factors for the global water-soluble fertilizer market. The exponential growth of the population in the Asia-Pacific region would increase the demand for food and nutrition. More stomachs to fill and people to feed are the primary drivers of the growth of these fertilizers, especially in developing countries such as India, China, Bangladesh, and others. Water-soluble fertilizers are considered traditional agricultural components, and developing countries that do not have strict environmental regulations are, therefore, the largest consumers of these fertilizers.

The main challenge in the market of water-soluble fertilizers is their adverse side effects that cause severe damage to the environment. Water-soluble fertilizers are always associated with algal blooms, degradation of the water table and soil quality. Also, the rise of organic farming and the organic revolution will hamper the growth of water-soluble fertilizers, especially in developed countries that have strict environmental regulations regarding the use of these chemicals.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Water-Soluble Fertilizers Market By Type of Crop

Agriculture fields account for a prominent portion of this market, which is likely to expand with a considerable growth rate in the future. 

Global Water-Soluble Fertilizers Market By Type

The segments of potassium and micronutrients are presumed to show enormous growth among other types, as there is a balanced need for all plant nutrients. 

REGIONAL ANALYSIS

Europe's water-soluble fertilizers market has dominated the global business with a revenue share of more than 38% in 2018. North America and Asia-Pacific followed Europe. Asia-Pacific is expected to grow at a faster rate in the coming years.

The Asia-Pacific water-soluble fertilizers market will experience a significant increase due to the rise in agricultural yields in countries such as China, India, Thailand, and Australia. The population increase, the improvement in income associated with the growth of the middle class, will stimulate the demand for food and agricultural products, which in turn will increase market expansion.

KEY PLAYERS IN THE WATER-SOLUBLE FERTILIZERS MARKET

Among the main companies that dominate the global water-soluble fertilizers market for their products and services are PR Agro Nutri Private Ltd. (India), CF Industries (United States), The Mosaic Company (United States), Israel Chemicals (Israel), Eurochem ( Switzerland), Terra Nitrogen Company (United States), PT Petrokimia Gresik (Indonesia), Sinofert Holdings (Hong Kong), Americas Petrogas (Canada) and Sirius Minerals (United Kingdom).

RECENT HAPPENINGS IN THE WATER-SOLUBLE FERTILIZERS MARKET

On January 10, 2020, Gujarat Agro Industries Corporation in India imported over 300 tonnes of water-soluble fertilizers from China. The imported products will be sold to farmers under the brand name of 'AGRO'.

In order to control the expenses related to imports of water-soluble and chloride-free potassium sulfate, Alkim Alkali Kimya A.S. (Alkim), a renowned sodium sulfate producers in Turkey has reached out to Veolia to use the latter's HPD crystallization technique to prepare potassium sulfate in crystalline and fully-soluble form.

DETAILED SEGMENTATION OF THE GLOBAL WATER-SOLUBLE FERTILIZERS MARKET INCLUDED IN THIS REPORT

This research report on the global water-soluble fertilizers market is segmented and sub-segmented based on the type of crop, Application, Type, and Region.

By Type Of Crop

• field
• horticultural
• lawn and ornamental plants

By Application

• fertigation
• foliar method

By Type

• nitrogen
• potassium
• phosphate
• micronutrients

By Region

• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America